Belfast IT firm Kainos doubles its pre-tax profit
- Published
Kainos specialises in helping organisations to digitise their operations and is a major supplier to UK government departments
Belfast-based IT firm Kainos doubled its pre-tax profits to £24m in the first half of 2020.
The profit was achieved on a turnover of £107m, up by 23%, while staff numbers also grew over the year from 1,562 to 1,729.
Kainos specialises in helping organisations to digitise their operations.
It has "significant ongoing engagements" in the UK government's digital transformation programme.
The vast majority of Kainos employees have been working from home since the first UK lockdown in March.
The firm reopened its offices on 21 September but is continuing to ask people to work from home where they can.
Currently 97% of its employees are still working from home.
'Well-positioned for further growth'
The firm's chief executive, Brendan Mooney, said the changes to working life brought about by the pandemic is likely to increase demand for the firm's products.
"We anticipate that Covid-19 will continue to accelerate the already strong demand from customers for digital transformation as organisations adapt to the changes that the pandemic has brought," he said.
The firm showed good progress in diversifying its sales away from the UK.
The proportion of revenue generated from customers outside the UK increased by 54% to £27.6m and is now 26% of total revenue compared to 21% in the same period last year.
The company says it has a "robust pipeline" of new work with Mr Mooney saying the firm is "well-positioned for further growth".
- Published27 July 2020
